People Matter Most

John Thiel is a MyNextSeason Advisor and the former Vice Chairman and Head of Merrill Lynch’s Wealth Management business.

Throughout my career at Merrill Lynch, I led teams of increasing size and complexity, but no matter how different each group was, one leadership mantra prevailed: People Matter Most. Every move a leader makes must be through the lens of understanding the impact on others. Engendering followership requires empathy, understanding, and empowering others to be their best.

I was struck by a powerful example of this with Captain Tammie Jo Shults, the Southwest Airlines pilot who safely landed a Boeing 737 after a mid-flight engine failure shattered a window, depressurized the plane, and tragically killed one passenger. We all read about her nerves of steel, her calm communication, and her brave decisions. All those qualities made her an incredible leader, but what she did after she landed the plane is what makes her exceptional. Before the passengers left, she came out of the cockpit to comfort each one personally. Whether with a few words, a handshake, or a hug, she showed that every passenger mattered to her. One passenger was quoted in the Dallas News saying, “It was very touching. Here, at the most crucial moment, she had the presence of mind and courage to act with excellence as it was required. It’s a beautiful quality.”

Empathy and understanding others’ points of view are critical in business as well. When I took over the helm of Merrill in 2011, it was a time of deep uncertainty and we needed to make major structural changes. For the reorganization to be successful, it was clear I needed to be the messenger… the one to explain the changes, answer questions, and provide reassurance. People needed to hear things straight from me. 

So, instead of doing live internal broadcasts or passing word down through my leadership team, I got on a plane and flew across the country, holding face-to-face meetings and town halls to explain the “why,” answer questions, and lay out our growth strategy for the future. I wanted leadership and advisors to know that I was willing to lead from the front and that the foundation of this new strategy was making their lives and clients’ lives easier. It also helped debunk many myths that would have undercut our success. Making that personal effort showed them they were a valued part of the team, and without it, I’m certain we wouldn’t have made the progress we did. 

When you’re making a meaningful change or handling a crisis, imagine being on the receiving side. Put yourself in the shoes of those hearing your messages or being asked to change. Be present. You rarely know the right things to do if you stay at corporate HQ, so get out to different offices and speak with people directly. Stay after meetings and answer questions. Making hard decisions is always a part of leadership, but empathy and understanding must inform those decisions. Leading well will earn you trust, loyalty, and discretionary effort from others. Captain Shults did a heroic act not only in how she landed that plane, but in how authentically she showed concern about the lives of every one of those passengers. That is something every great leader must do.